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On-chain Analysis The following chart provides an excellent overview of Bitcoin’s price cycles alongside the MVRV metric, which represents the ratio of the coin’s market cap to its realized cap. This metric is used to determine if the price is overvalued. Historically, the MVRV metric falls into the green zone during bearish market phases, indicating that Bitcoin is trading in the undervalued section and the cycle’s bottom is forming. However, as the chart clearly demonstrates, each time the MVRV metric has spiked above 1, Bitcoin has experienced a surge, initiating the bull market. Bitcoin’s recent impulsive rally has caused a sharp increase in the MVRV metric. Therefore, the market may have entered a bullish mid-term stage, which could be followed by unexpected moves and high volatility.

Hello, welcome to this SOL/USDT 1 DAY chart update by CRYPTOSANDERS. I have tried to bring the best possible outcome to this CHART ANALYSIS: Solana (SOL) was another notable mover on Monday, as the token fell for a third consecutive day. Following a high of 23.93 on Sunday, SOL/USD slipped to a bottom of 22.05 earlier in the day. This bearish spell started after bulls were unable to force a breakout beyond a ceiling at the 24.00 mark. One of the catalysts for this was the RSI, which also failed to surge past a key resistance level at 55.00 As of writing, price strength is tracking at 48.58, with the next visible floor at the 45.00 zone. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. Thank you..... https://www.tradingview.com/chart/SOLUSDT/yPRzHP7A-SOL-USDT-1DAY-UPDATE-BY-CRYPTOSANDERS/

Welcome to this quick LTC/USDT analysis. I have tried my best to bring the best possible outcome in this chart. Reason for Analysis:-Litecoin (LTC) was down for a second straight session on Monday, as markets prepared for the upcoming United States Federal Reserve policy decision. LTC/USD dropped to a low of 86.83 earlier in today’s session, which comes 24 hours after trading at a high of 91.39. Today’s drop in price has pushed litecoin to its weakest point since last Wednesday when the token was at a low of 84.21. Looking at the chart, Monday’s move came as the relative strength index (RSI) fell to a support level of 44.00. At the time of writing, the index is tracking at 44.80, with an upcoming ceiling of 50.00 a potential target for bulls. Should this point be hit, there is a strong possibility that LTC will move back above the 90.00 mark. Hit the like button if you like it and share your charts in the comments section. Thank you...

Putin Says Multipolarity Trend Will Intensify — Warns Those Who Do Not Follow Will Lose Russia’s president, Vladimir Putin, says the trend toward multipolarity is inevitable and will only intensify. “Those who do not understand this and do not follow this trend will lose,” the Russian president warned.

Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS. CHART ANALYSIS:-Ethereum (ETH) was also in the red, as prices plunged for a second consecutive session. ETH/USD dropped to a bottom at 1,829.41 earlier in the day, less than 24 hours after trading at a peak of 1,938.42. Similar to BTC, today’s slippage sent ethereum below its own point of support at the 1,830 level. ETH has since rebounded from this floor, as bulls opted to buy the dip, rather than continuing to flee positions. This was helped by the fact that the RSI here also collided with a support zone at 45.00, and it continues to track beyond this point. Bulls will likely be targeting re-entry above 1,900 in the upcoming days. Hit the like button if you like it and share your charts in the comments section. Thank you https://www.tradingview.com/chart/ETHUSD/CmwGyCKZ-ETH-USD-1DAY-UPDATE-BY-CRYPTO-SANDERS/

Important dates to keep in mind.

Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS. CHART ANALYSIS:- Bitcoin (BTC) continued to trade lower on Monday, as markets consolidated ahead of a pivotal week of economic events. Following a high of 29,952.03 on Sunday, BTC/USD slipped to an intraday low of 28,360.50 earlier today. This move saw Bitcoin briefly fall below a critical support point at 28,500, hitting its lowest point since April 27. Overall, bitcoin remains nearly 4% higher than at the same point last week, when prices were close to the 27,000 mark. As a result of today’s sell-off, the relative strength index (RSI) has dropped to a floor of its own at 50.00. The index is now tracking at 50.09, with BTC rebounding from its earlier low, and currently trading at 28,591.66. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you. https://www.tradingview.com/chart/BTCUSD/ikfCL2ac-BTC-USD-1DAY-UPDATE-BY-CRYPTO-SANDERS/

Treasury Secretary Yellen Warns US Could Default on Its Debt by June 1 U.S. Treasury Secretary Janet Yellen has warned that the Treasury will not be able to pay all of the government’s debt “as early as June 1, if Congress does not raise or suspend the debt limit before that time.” Yellen also cautioned that the U.S. defaulting on its debt obligations “would produce an economic and financial catastrophe.”

US Court Orders Operator of South African Bitcoin Ponzi Scheme to Pay Over $3.4 Billion Johann Steynberg, the founder and CEO of Mirror Trading International, has been ordered to pay over $1.73 billion in restitution to victims of his bitcoin ponzi scheme. The court has also ordered Steynberg to pay a civil monetary penalty of a similar amount. The Commodity Futures Trading Commission (CFTC) conceded that orders requiring payment of funds “may not result in the recovery of any money lost because wrongdoers may not have sufficient funds or assets.”

Mawson Infrastructure Group Expands to New Bitcoin Mining Site in Ohio, Plans to Boost Hashpower by 1 EH/s Mawson Infrastructure Group announced on Monday that the company has secured a new mining site in Corning, Ohio. The bitcoin mining firm, on May 1, 2023, unveiled its plans to set up its miners at the new location by Q3 of this year, with an aim to raise the operation’s hashpower by 1 exahash per second (EH/s).

Stabilizing the Banking System: Biden Reassures Public Amid First Republic Bank Collapse, but Warns of National Debt Default Amid the collapse of the second, third, and fourth largest banks in American history, U.S. president Joe Biden reassured the public that the country’s banking system remains sturdy. However, the president also acknowledged the “threat by the speaker of the House to default on the national debt.”

Ethereum Network Fees Surge 153% in 30 Days, While Arbitrum Daily Transactions Outpace ETH Following Shapella Upgrade Ethereum network fees have experienced a significant upswing following the implementation of the Shapella upgrade on April 12th. In the last 30 days, onchain fees have soared by over 153%, from a prior rate of $4.65 per transfer to a current average of $11.80 per transaction. The data highlights a substantial surge in the costs associated with Ethereum network transactions, indicating a notable increase in onchain activity.

Paysenger Launches IDO as the Platform Looks to Solve the Challenges of AI-Generated Art PRESS RELEASE. The rise of AI-generated art has created ethical concerns and challenges within the art community, as many artists perceive these tools as undermining their skills and exploiting their work for profit. Paysenger, a groundbreaking blockchain-based collaboration platform for content creators, fans, and brands, is poised to tackle these issues with its native token, EGO, and AI integration.

Biggest Movers: LTC Back Under $90.00, as SOL Extends Declines Litecoin fell below the $90.00 level on Monday, as sentiment in cryptocurrency markets remained mostly bearish. The global market cap is down 1.87% at the time of writing, which seems to be a result of the upcoming Federal Reserve interest rate decision. Solana was also in the red today.

Charlie Munger Raises Concerns Over Troubled Commercial Property Loans at US Banks Charlie Munger, the vice chairman of Berkshire Hathaway, stated in a recent interview that American banks are burdened with poor-quality commercial real estate loans. His comments arrive amid the collapse of three major U.S. banks and the expected seizure of First Republic Bank by the federal government. Despite the potential challenges, Munger emphasized that the current situation is not as severe as the 2008 financial crisis, stating that “it’s not nearly as bad as it was in 2008.”

JPMorgan Chase Assumes Control of First Republic Bank Following Seizure by California Regulators On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) seized First Republic Bank, placing it into Federal Deposit Insurance Corporation (FDIC) receivership. According to reports, this move came after the bank’s financial troubles made it insolvent and unable to meet its obligations. Following the seizure, JPMorgan Chase submitted the winning bid to assume control of First Republic Bank’s deposits, including uninsured deposits.

BTC, ETH Start Week Lower, Ahead of Key Economic Events Bitcoin started the week trading in the red, as markets prepared for an important week of U.S. economic events. On Wednesday, the Federal Reserve is expected to increase rates by 25 basis points, with nonfarm payrolls for April being released this coming Friday. Ethereum was also lower in today’s session.

Top Indian Banker Says US Dollar Has ‘Disproportionate Power’ as Reserve Currency; Retracts ‘Biggest Financial Terrorist’ Remark Uday Kotak, the CEO of Kotak Mahindra Bank, a financial institution based in India, recently expressed his view on the dominance of the U.S. dollar in global financial markets. Kotak stated that the U.S. dollar has “disproportionate power” as a reserve currency, retracting his previous statement in which he referred to the currency as the “biggest financial terrorist in the world.” Kotak explained that several countries were exploring alternative reserve currencies to reduce their dependence on the U.S. dollar.

Jack Dorsey-Backed Bitcoin Legal Defense Fund Supports Open Source Developers in Lawsuit With Craig Wright Bitcoin Legal Defense Fund (BLDF) recently delivered on its promise to fund the legal costs of 11 Bitcoin developers that are the target of the self-proclaimed Bitcoin inventor Craig Wright’s lawsuit. According to Alex Morcos, the “mission [of BLDF] is to safeguard innovation by shielding developers from legal intimidation.”